Mike Mullett Real Estate

What Higher Mortgage Rates Mean for Home Sellers

Higher mortgage rates are making buyers more cost-conscious. Builders know that, and many are responding with reduced rate, closing-cost help, price reductions, and other incentives.
If you're thinking about selling, let's look at what buyers are getting from other homes in our area – including new construction – and make sure your house is positioned to compete.

What Higher Mortgage Rates Mean for Home Sellers Higher mortgage rates don't just affect buyers. They can change what it takes to sell your house, too.

Fellow brokers, are you interested in a $100 gas card? Of course you are - stop by the broker open house at my listing in Gorham (Monday, 1-3pm is the time, or schedule a time to go ahead of time on your own), give feedback, and you'll be entered! Stop by, say hi and ease your fuel bill for October! - Mike Mullett, Broker/Realtor, 207-415-0415

Does one size ever really fit all? One mortgage rate doesn't either.

You may be seeing today’s higher rates and worrying about whether it’s still worth it to buy. Here’s what you need to realize…

Mortgage rates differ just like the people who apply for loans. So, the rate you see online isn’t necessarily the one you’d get when you buy.

Your real mortgage rate is specific to your individual situation. It can be higher or lower than what you've seen or heard.

So, don’t assume the rate in the headlines is your rate. Before you decide you can't buy a home or that you should wait, find out what your real rate is. You'll know what your options are and get a map to what's possible.

And a quick conversation with a loan officer is the perfect place to start.

Mortgage rates have been climbing again, and if you're hoping to buy, that can feel discouraging.

Here’s what you have to remember.

You can't control where rates go. But you can control a few things that shape the rate you actually get: your credit score, the type and term of loan you choose, and whether you buy a newly built home, where builders are often buying down rates to bring buyers in.

Focus there, and you put yourself in a stronger spot without waiting on the market.

Want to talk it through? A trusted lender can help with the numbers, and we can find the home to match. Let's connect.

Open House Saturday 12-2, come take a peek before the Nor'easter! 420 Main Street, Gorham, would love to see you!